Pre-planning is prepared at a time when you are thinking sensibly and logical. It is a way to let your wishes known to your loved ones left behind, keeping them from over spending out of guilt or shame.
Preplanning can be funded ahead of time to assure funds are available to pay for funeral expenses at the time death occurs, allowing your loved ones to grieve a loss of a loved one without a financial burden.
46% of survivors making funeral arrangements for a loved one do not have financial resources to pay for an average funeral. Why?
- Lack of proper pre-planning
- Insufficient insurance funds
- Insurance coverage lapsed
- Wrong type of insurance (accident insurance and not life insurance)
- Lack of savings or assets
- Medical expenses